India abandons coal projects in wake of record solar prices

Electricity from solar farms continues to outbid coal power in India, and this means that several coal power projects in the country are no longer economically viable. One analyst thinks the trend will have profound consequences for international energy markets.

Photo: Mainstream Renewable Power

After several years of drastically declining prices on solar power, plans to construct a series of new coal power plants in India have been canceled. The country, which is the world's second-largest coal consumer after China, is now abandoning coal projects with combined capacity of 13.7 GW, writes energy analyst at IEEFA, Tim Buckley.

During a May auction, the developers Phelan Energy Group and Avaada Power Private Limited bid below the former record-minimum on a solar panel farm in the country by 12 percent. The 250 MW Bhadla project will thus settle for a guaranteed price of DKK 0.29/kWh (EUR 0.039). Just two days later, this record was beat in the auction for two projects of a total 500 MW at prices of DKK 0.23 and DKK 0.24 per kWh.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Siemens Gamesa's deep financial woes are halfway self-inflicted

Despite successfully forwarding the external costs to customers, onshore wind projects valued at EUR 2bn are being delivered at zero-profit margins in the years to come, according to the turbine maker’s CEO. Here and there, things might have moved a bit too fast.

Further reading

Related articles

Latest News

See all jobs